DNB is Norway’s largest financial services group and one of the largest in the Nordic region in terms of market capitalisation. The Group offers a full range of financial services, including loans, savings, advisory services, insurance and pension products for retail and corporate customers, delivered via a wide range of traditional and digital channels. DNB is also Norway’s largest internet bank, with more than 1.3 million users, and delivers the country’s largest mobile banking service, with 715,000 users in Q4 of 2016.
The Nordic online shopping market is big business. Valued at €17.3bn in 2015, it is also a market experiencing dramatic growth with a 13% increase in the same year. 75% of the Nordic population (18-79 year olds) shopped online in 2015, citing the range of products and competitive pricing, together with the speed and convenience of the shopping experience as prime motivators.
For DNB, the delivery of a frictionless online payment experience is central to its ability to maintain customer satisfaction. Key in this regard is the online payment process where consumers in the Nordics expect e-commerce checkouts to be fast, easy, convenient and secure. DNB therefore needed a solution that would improve the speed, simplicity and convenience of its customers’ online shopping experience.